From The Henry Tax Review

“The re-emergence of the Asian region as a centre of world economic activity together with increasing globalisation, characterised by increasing mobility of capital and to a lesser extent labour, will have a further profound effect on how investment is taxed and will increase the need for tax and transfer policy settings that support productivity growth.”

“Around 90 per cent of Australian tax revenue is raised through only 10 out of some 125 different taxes that are currently levied on businesses and individuals.”